No deed of trust or mortgage given to secure the payment of money, other than credit line deeds of trust described in § 55.1-318, and no lien reserved to secure the payment of unpaid purchase money, in which no date is fixed for the maturity of the debt secured by such deed of trust, mortgage, or lien, shall be enforced after twenty years from the date of the deed of trust, mortgage, or other lien; provided that the period of one year from the death of any party in interest shall be excluded from the computation of time, and provided further that the limitation may be extended by recordation of a certificate within the twenty-year period in the manner set forth in § 8.01-241. No credit line deed of trust described in § 55.1-318 in which no date is fixed for the maturity of the debt secured thereby shall be enforced after forty years from the date of the credit line deed of trust; provided that the period of one year from the death of any party in interest shall be excluded from the computation of time.
Code 1950, § 8-12; 1977, c. 617; 1994, c. 547; 1999, c. 788.
Notes of Decisions
Cited in
4
cases (
1 in the last 5 years), 1991–2025 · leading case:
Allen v. Chapman, 406 S.E.2d 186 (Va. 1991).
Allen v. Chapman, 406 S.E.2d 186 (Va. 1991).
· cites it 17× “In three appeals consolidated for review, we consider whether a junior lienor is a party in interest for purposes of Code § 8.01-242, which prescribes a statute of limitations for certain deeds of trust.”
Long, Long & Kellerman, P.C. v. Wheeler, 570 S.E.2d 822 (Va. 2002).
· cites it 12× “In this appeal, we consider whether an assignee of a deed of trust is subject to the 20-year statute of limitations contained in Code § 8.01-242 even though the assignor of the deed of trust is a federal agency which, had it sought to enforce the deed of trust, would not have…”
Donovan v. Bomar, 52 Va. Cir. 346 (Lynchburg Cir. Ct. 2000).
· cites it 3× “Perrow, III The parties are before the Court on a defense motion to dismiss a personal injuty action on the ground that the action was not brought against the proper party within the two-year statute of limitations, Va. Code § 8.01-242(A). The cause of action alleged arises out…”
Va. Code Ann. § 8.01-242(A): 1 case
Donovan v. Bomar, 52 Va. Cir. 346 (Lynchburg Cir. Ct. 2000).
“Perrow, III The parties are before the Court on a defense motion to dismiss a personal injuty action on the ground that the action was not brought against the proper party within the two-year statute of limitations, Va. Code § 8.01-242(A). The cause of action alleged arises out…”
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